US Fed to decide on interest rates

Available for over a year

US Federal Reserve officials are expected to keep rates on hold for now. They currently sit in a range of 5.25 to 5.5 percent - the highest they've been for 22 years. But one consequence is that this is gumming up the US housing market because people are reluctant to move and face higher monthly mortgage payments. Sam Fenwick hears from a US homeowner who is reluctant to downsize or scaleup mortgage payments because of the high interest rates. (Picture: Federal Reserve Chairman, Jerome Powell pictured at the House Financial Services Committee in Rayburn Building on June 21, 2023. Photo credit: Getty Images)